Aeva Technologies says reverse stock split effective March 18

Aeva announced that it expects a 1-for-5 reverse stock split of its outstanding shares of common stock will be effective as of March 18, 2024 at approximately 4:01 p.m. Eastern Time. Aeva‘s common stock will continue trading on the New York Stock Exchange under the existing symbol and will begin trading on a split-adjusted basis when the market opens on March 19, 2024, with the new CUSIP number 00835Q202. As of the effective time of the reverse stock split, every five issued and outstanding shares of Aeva’s common stock will be automatically reclassified into one issued and outstanding share of Aeva’s common stock. This will reduce the number of shares outstanding from approximately 263.8 million shares to approximately 52.8 million, subject to adjustment for fractional shares. Proportionate adjustments will be made to the number of shares of common stock underlying the company’s outstanding equity awards, warrants, the number of shares issuable under its equity incentive plans and other existing agreements, as well as the exercise or conversion price, as applicable. The reverse stock split will not affect the number of authorized shares of common stock or the par value of the common stock.